The oil production for Norway and Yemen in December, 4th Quarter and 2004 was as follows (BOPD):
December 4th Quarter 2004
Norway 2.044 1.336 1.670
Yemen 13.479 14.083 12.309
Total 15.523 15.419 13.979
Due to reallocation of the production from Yemen the actual production in October and November is higher than previously reported. The corrected actual figures are (BOPD):
Norway 26 1.937
Yemen 14.157 14.613
Total 14.183 16.550
DNO is very pleased with achieving an average production for 2004 of ca. 14.000 BOPD. The main reason for reaching a production level well above the target for the year is the excellent performance of the Yemeni producing assets following the implementation of a succesful drilling programme.
YEMEN DRILLING UPDATE
Drilling of Nabrajah # 4 has reached a total depth of 1.742 meters. Due to various hole problems during drilling of Nabarajah # 4, a side-track from the original planned well track had to be drilled. Initial interpretation of well logs confirms the precence of oil in the Qishn S1 and S2 intervals. No testing will be undertaken of the well which will be suspended and prepared as a future Nabrajah producer. The rig will now move to drill Nabrajah # 5 which has a top Qishn S2 target some 1.100 meters south of Nabrajah # 4.
The Nabrajah Field Development Plan has been submitted to the Yemeni authorities for appoval.
The Sharyoof North-East # 1 was drilled on a structure separat to the main Sharyoof field. The well did not encounter hydrocarbons. The rig has now moved back to Block 32 to drill the Tasour # 15 well, which is located east of the main Tasour Field.
13 January 2005
For further information, please contact:
Telephone: (+47) 55 22 47 00 / (+47) 23 23 84 80